اقتصاد توکنی Bonk (BONK)

Bonk (BONK) is a dog-themed meme token built primarily on the Solana blockchain as an SPL token, though it has been bridged to other chains like Ethereum (ERC-20), BNB Smart Chain (BEP-20), Polygon (MRC-20), and Arbitrum (ArbERC-20). Its token economics are characterized by a large initial supply distributed via airdrop, community-focused allocation, and mechanisms for utility, staking, and burning.

Issuance Mechanism

The initial distribution of BONK was conducted via an airdrop, with no public or private sales used to raise funds for the project.

• Maximum Supply: The maximum token supply is approximately 93.56 trillion BONK as of January 31, 2024.
• Burning Mechanism: The supply is deflationary due to a burning mechanism associated with the BonkBot trading fee. BonkBot charges a 1.00% trading fee on all transactions, with 100% of this fee used to buy back BONK tokens. The remaining 10.00% of the trading fees are used to "instantly burn BONK." As of January 31, 2024, approximately 6.46 trillion BONK have been burned, reducing the initial maximum supply.

Allocation Mechanism

The initial maximum token supply was allocated across various segments of the Solana ecosystem and early contributors.

• Early Contributors: The 21.0% allocated to 22 early contributors is subject to a vesting schedule.
• Initial Liquidity: The 5.3% allocated for Initial Liquidity Distribution was used in platforms like Raydium, Orca, and Solend. Any rewards earned from this distribution are returned to the BONK DAO.
• BONK DAO: The 15.8% allocated to the BONK DAO is intended for community-conceived initiatives, with a Realms Instance established to control further distribution and allocation.

Usage and Incentive Mechanism

BONK functions as a utility token across a wide range of applications and protocols within the Web3 ecosystem, particularly on Solana.

Primary Utility and Integrations

BONK is integrated into numerous applications across categories including:

• DeFi
• Gaming
• NFTs
• Wallets
• Social applications
• Transfer Tools

Specific uses include:

• NFT Creation: BONK can be used to create NFT art collectibles, requiring 1 BONK per NFT.
• Liquidity Provisioning: BONK can be paired with other tokens in liquidity pools on BonkSwap, earning liquidity providers a pro-rata share of transaction fees, with advertised APYs ranging from 23.43% to 43.36% as of January 31, 2024.
• Trading: Tokenholders can use BONK to participate in binary up/down options trading on the SOL/USD price ratio via "Bonk or Bust."
• Gaming/Fitness: Projects like Moonwalk gamify fitness by introducing financial incentives using BONK.
• Sports Betting: BONKBETS is a Web3 sportsbook where users can bet with BONK.

Incentive Mechanisms

Users and tokenholders can earn compensation through several mechanisms:

• Staking Rewards (esBONK): Tokenholders who provide liquidity to incentivized pools (BONK/SOL and BONK/USDC) receive esBONK rewards. Approximately 55.56 million esBONK tokens are distributed daily.
• BonkBot Referral Program: Existing users who refer new users to BonkBot receive a percentage of the new user's trading fees, paid in BONK:
  • First month: 30.00%
  • Second month: 20.00%
  • Perpetually starting with the third month: 10.00%
  • These rewards are funded by 20.00% of the trading fees allocated to "cover referrals."
• Staking (ERC20 Version): For the ERC20 version of BONK, a 1% fee on all transfers and a 9% withdrawal fee are sent to the staking pool, which is then distributed to stakers.

Locking Mechanism and Unlocking Time

Early Contributor Vesting

The 21.0% of the initial supply allocated to early contributors is subject to a vesting schedule.

• Locking Mechanism: The tokens are subject to a linear vesting period.
• Unlocking Time: The vesting period is three years, beginning on January 1, 2023.

Staking and Liquidity Provisioning

A separate locking mechanism is associated with the staking of liquidity provider rewards.

• Locking Mechanism: Liquidity providers receive esBONK tokens. These esBONK tokens must be staked on BonkSwap to unlock the underlying BONK tokens.
• Unlocking Time: Staked esBONK tokens linearly unlock BONK tokens at a 1:1 ratio over 365 days.